Carnarvon Energy Says Western Australia Joint Venture Progresses Long-Lead Item Procurement Ahead of 2027 Drilling Program

MT Newswires Live01-23 12:01

Carnarvon Energy (ASX:CVN) said the Bedout sub-basin joint venture in Western Australia progressed procurement of long-lead items as well as the environment approval process ahead of the 2027 first-half exploration drilling program, according to a Friday Australian bourse filing.

Santos (ASX:STO) is the operator of the venture. Carnarvon holds up to 20% of the venture. The upcoming drilling program will target a large prospect with significant upside beyond the existing 450 million barrels of oil-equivalent already discovered.

A preliminary development plan was also completed for the Dorado oil and gas field offshore Western Australia, which considers a staged approach, beginning with liquids production in the first phase, followed by a potential gas export phase.

Its shares rose 1% in recent trading on Friday.

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